TIDMQFI
RNS Number : 7296K
Quadrise Fuels International PLC
03 September 2021
3 September 2021
Quadrise Fuels International plc
("Quadrise", "QFI" or "the Company")
Issue of Share Options and Director/PDMR Dealing
Quadrise announces that it has today granted performance share
options (the "Performance Options") over new ordinary shares of 1p
each in the Company ("Ordinary Shares") under the provisions of the
Company's Unapproved Share Option Plan 2016 ("2016 Plan") to the
executive directors of the Company, in the amounts set out below.
The issue of the Performance Options follows the lapsing in full of
options issued by the Company on 24 August 2020 due to the specific
performance conditions of those options not having been met.
Director Number of Performance Plan Exercise price
Options
Mike Kirk 3,000,000 2016 Plan 7.5p
---------------------- ---------- ---------------
Jason Miles 7,500,000 2016 Plan 7.5p
---------------------- ---------- ---------------
Total 10,500,000 - -
---------------------- ---------- ---------------
These Performance Options will vest as to 50% on the first
anniversary of grant and the remaining 50% shall vest on the second
anniversary of the date of grant. All vestings are subject to the
satisfaction of specific performance conditions prior to the first
anniversary of grant. The Performance Options will be exercisable
from vesting until the eighth anniversary of the date of grant.
Quadrise has also today issued a total of 4,015,722 nominal
value options ("NVO") to certain of the Company's PDMRs and
employees in lieu of cash bonuses for the year ended 30 June 2021.
The NVOs have been issued under the Company's Enterprise Management
Incentive Share Option Plan ("EMI Plan") or 2016 Plan, as
appropriate. These awards recognise the significant progress made
with bioMSAR(TM) development and provide a further commercial
delivery incentive. The issue of NVOs include the following awards
to certain of the Company's PDMRs:
Director/PDMR Number of NVOs Plan Exercise price
Mike Kirk 776,931 2016 Plan 1.0p
--------------- ---------- ---------------
Jason Miles 1,775,862 2016 Plan 1.0p
--------------- ---------- ---------------
David Scott 556,034 EMI Plan 1.0p
--------------- ---------- ---------------
Total 3,108,827 - -
--------------- ---------- ---------------
The NVOs issued to Mike Kirk and Jason Miles under the 2016 Plan
will vest after 12 months from the date of grant, have no
performance conditions and will be exercisable from vesting until
the eighth anniversary of the date of grant. The NVO's issued to
David Scott and certain other employees under the EMI Plan will
vest after 12 months from the date of grant, have no performance
conditions and will be exercisable from vesting until the tenth
anniversary of the date of grant.
Following the grant of Performance Options and NVOs detailed
above, the Company has a total of 42,866,456 Ordinary Shares under
option, representing approximately 3.0% of the Company's current
issued ordinary share capital. In addition, the Company has a
further 40,228,026 Ordinary Shares under warrant, representing 2.9%
of the Company's current issued ordinary share capital.
The notifications below, made in accordance with the
requirements of the UK Market Abuse Regulation, provide further
details.
For further information, please refer to the Company's website
at www.quadrisefuels.com or contact:
Quadrise Fuels International Plc
Mike Kirk, Chairman +44 (0)20 7031 7321
Jason Miles, Chief Executive Officer
Nominated Adviser
Cenkos Securities plc
Ben Jeynes +44 (0)20 7397 8900
Katy Birkin
Joint Brokers
Peel Hunt LLP
Richard Crichton +44 (0)20 7418 8900
David McKeown
Shore Capital Stockbrokers Limited
Toby Gibbs +44 (0)20 7408 4090
Fiona Conroy
Public & Investor Relations
Ben Brewerton +44 (0)20 3727 1000
Ntobeko Chidavaenzi
NOTIFICATIONS AND PUBLIC DISCLOSURES OF TRANSACTIONS BY PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY
ASSOCIATED WITH THEM
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Michael Peter Kirk
--------------------------------------- ----------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------------
a) Position/status Chairman
--------------------------------------- ----------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------
a) Name Quadrise Fuels International PLC
--------------------------------------- ----------------------------------------
b) LEI 213800HN2ETG5476U328
--------------------------------------- ----------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------------------
a) Description of the Ordinary shares of 1 pence each
financial instrument,
type of instrument
Identification code ISIN: GB00B11DDB67
--------------------------------------- ----------------------------------------
b) Nature of the transaction Grant of Performance Options over
ordinary shares of 1 pence each
under the Company's 2016 Plan
--------------------------------------- ----------------------------------------
c) Price(s) and volume(s)
------------------ -----------------
Price(s) Volume(s)
------------------ -----------------
GBP0.00 3,000,000
--------------------------------------------------------------- -----------------
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price N/A - single transaction
--------------------------------------- ---------------------------------------------
e) Date of the transaction 3 September 2021
--------------------------------------- ----------------------------------------
f) Place of the transaction Outside of a trading venue
--------------------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jason Victor Miles
--------------------------------------- ----------------------------------------
2 Reason for the notification
---------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------------------------- ----------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- ----------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
---------------------------------------------------------------------------------
a) Name Quadrise Fuels International PLC
--------------------------------------- ----------------------------------------
b) LEI 213800HN2ETG5476U328
--------------------------------------- ----------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
---------------------------------------------------------------------------------
a) Description of the Ordinary shares of 1 pence each
financial instrument,
type of instrument
Identification code ISIN: GB00B11DDB67
--------------------------------------- ----------------------------------------
b) Nature of the transaction Grant of Performance Options over
ordinary shares of 1 pence each
under the Company's 2016 Plan
--------------------------------------- ----------------------------------------
c) Price(s) and volume(s)
------------------ -----------------
Price(s) Volume(s)
------------------ -----------------
GBP0.00 7,500,000
--------------------------------------------------------------- -----------------
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price N/A - single transaction
--------------------------------------- ---------------------------------------------
e) Date of the transaction 3 September 2021
--------------------------------------- ----------------------------------------
f) Place of the transaction Outside of a trading venue
--------------------------------------- ----------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Michael Peter Kirk
--------------------------------------- ------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------
a) Position/status Chairman
--------------------------------------- ------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- ------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-----------------------------------------------------------------------------------
a) Name Quadrise Fuels International PLC
--------------------------------------- ------------------------------------------
b) LEI 213800HN2ETG5476U328
--------------------------------------- ------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-----------------------------------------------------------------------------------
a) Description of the Ordinary shares of 1 pence each
financial instrument,
type of instrument
Identification code ISIN: GB00B11DDB67
--------------------------------------- ------------------------------------------
b) Nature of the transaction Grant of Nominal Value Options over
ordinary shares of 1 pence each
--------------------------------------- ------------------------------------------
c) Price(s) and volume(s)
------------------- ------------------
Price(s) Volume(s)
------------------- ------------------
GBP0.00 776,931
---------------------------------------------------------------- ------------------
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price N/A - single transaction
--------------------------------------- -----------------------------------------------
e) Date of the transaction 3 September 2021
--------------------------------------- ------------------------------------------
f) Place of the transaction Outside of a trading venue
--------------------------------------- ------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jason Victor Miles
--------------------------------------- --------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------
a) Position/status Chief Executive Officer
--------------------------------------- --------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------
a) Name Quadrise Fuels International PLC
--------------------------------------- --------------------------------------------
b) LEI 213800HN2ETG5476U328
--------------------------------------- --------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------------------
a) Description of the Ordinary shares of 1 pence each
financial instrument,
type of instrument
Identification code ISIN: GB00B11DDB67
--------------------------------------- --------------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
of 1 pence each
--------------------------------------- --------------------------------------------
c) Price(s) and volume(s)
-------------------- -------------------
Price(s) Volume(s)
-------------------- -------------------
GBP0.00 1,775,862
----------------------------------------------------------------- -------------------
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price N/A - single transaction
--------------------------------------- -------------------------------------------------
e) Date of the transaction 3 September 2021
--------------------------------------- --------------------------------------------
f) Place of the transaction Outside of a trading venue
--------------------------------------- --------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name David Scott
--------------------------------------- --------------------------------------------
2 Reason for the notification
-------------------------------------------------------------------------------------
a) Position/status Head of Finance
--------------------------------------- --------------------------------------------
b) Initial notification Initial notification
/Amendment
--------------------------------------- --------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
-------------------------------------------------------------------------------------
a) Name Quadrise Fuels International PLC
--------------------------------------- --------------------------------------------
b) LEI 213800HN2ETG5476U328
--------------------------------------- --------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
-------------------------------------------------------------------------------------
a) Description of the Ordinary shares of 1 pence each
financial instrument,
type of instrument
Identification code ISIN: GB00B11DDB67
--------------------------------------- --------------------------------------------
b) Nature of the transaction Grant of options over ordinary shares
of 1 pence each
--------------------------------------- --------------------------------------------
c) Price(s) and volume(s)
-------------------- -------------------
Price(s) Volume(s)
-------------------- -------------------
GBP0.00 556,034
----------------------------------------------------------------- -------------------
d) Aggregated information
- Aggregated volume N/A - single transaction
- Price N/A - single transaction
--------------------------------------- -------------------------------------------------
e) Date of the transaction 3 September 2021
--------------------------------------- --------------------------------------------
f) Place of the transaction Outside of a trading venue
--------------------------------------- --------------------------------------------
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END
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